In 2023, lenders reported 773 mortgage applications in Polk County, MN totaling $121.0 million, down 16% from 2022. The average application was for $156,000, and applicants reported an average income of $106,000. 65% of applications resulted in an originated loan and 11% were denied. The most active lender was Gate City Bank, with 67 applications, followed by Bremer Bank NA and Frandsen Bank & Trust.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 773 |
| Total Mortgage Loan Application Amount | $120,955,000 |
| Average Mortgage Loan Application Amount | $156,000 |
| Highest Mortgage Loan Application Amount | $755,000 |
| Average Applicant Income | $106,000 |
| Highest Applicant Income | $996,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Gate City Bank 500 2ND AVE N FARGO, ND 58102 |
* | $ 3,392,287,000 | 67 | $ 8,295,000 |
| Bremer Bank NA 372 SAINT PETER STREET SAINT PAUL, MN 55102 |
* | $ 15,939,263,000 | 63 | $ 8,475,000 |
| Frandsen Bank & Trust 116 CENTRAL STREET WEST LONSDALE, MN 55046 |
* | $ 3,163,444,000 | 49 | $ 6,335,000 |
| US Bank, N.A. 425 WALNUT STREET CINCINNATI, OH 45202 |
* | $ 585,135,605,000 | 46 | $ 6,900,000 |
| First Community Credit Union 111 9TH ST SW JAMESTOWN, ND 58401 |
* | $ 1,195,944,000 | 31 | $ 3,635,000 |
| American Federal Bank 215 N 5TH ST FARGO, ND 58102 |
* | $ 711,527,000 | 28 | $ 4,770,000 |
| United Wholesale Mortgage 40600 ANN ARBOR RD E STE 201 PLYMOUTH, MI 48170 |
* | $ -1,000 | 26 | $ 5,630,000 |
| Bravera Bank 140 1ST AVENUE WEST DICKINSON, ND 58601 |
* | $ 2,398,640,000 | 25 | $ 4,195,000 |
| Bravera Bank 140 1ST AVENUE WEST DICKINSON, ND 58601 |
* | $ -1,000 | 25 | $ 4,195,000 |
| Alerus Financial NA PO BOX 6001 GRAND FORKS, ND 58206 |
* | $ 3,778,066,000 | 24 | $ 3,840,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ 129,461,046,000 | 20 | $ 1,330,000 |
| Ultima Bank Minnesota 603 HILLIGOSS BLVD. SE FOSSTON, MN 56542 |
* | $ 216,517,000 | 18 | $ 2,130,000 |
| Barrington Bank & Trust Company, N.A. 201 SOUTH HOUGH STREET BARRINGTON, IL 60010 |
* | $ 3,765,608,000 | 14 | $ 2,990,000 |
| Dakota Heritage Bank RED LAKE FALLS, MN 56750 |
* | $ 324,294,000 | 13 | $ 2,745,000 |
| Huntington National Bank 7 EASTON OVAL EA5C242 COLUMBUS, OH 43219 |
* | $ 182,325,674,000 | 12 | $ 1,640,000 |
| Amerihome Mortgage Company, LLC 1 BAXTER WAY SUITE 300 THOUSAND OAKS, CA 91362 |
* | $ -1,000 | 11 | $ 2,055,000 |
| First National Bank Bagley PO BOX N, 31 CENTRAL STREET E BAGLEY, MN 56621 |
* | $ 113,707,000 | 11 | $ 2,165,000 |
| Amerisave Mortgage Company 1200 ALTMORE AVENUE BUILDING 2 SUITE 300 SANDY SPRINGS, GA 30342 |
* | $ -1,000 | 11 | $ 2,045,000 |
| Ark-La-Tex Financial Services LLC 5160 TENNYSON PKWY STE 1000 PLANO, TX 75024 |
* | $ -1,000 | 11 | $ 2,905,000 |
| Newrez LLC FORT WASHINGTON, PA 19034 |
* | $ -1,000 | 11 | $ 1,425,000 |
| Freedom Mortgage Corporation 951 YAMATO ROAD SUITE 175 BOCA RATON, FL 33431 |
* | $ -1,000 | 10 | $ 1,980,000 |
| Mortgage Research Center 1400 VETERANS UNITED DR. COLUMBIA, MO 65203 |
* | $ -1,000 | 10 | $ 2,290,000 |
| Planet Home Lending, LLC 321 RESEARCH PARKWAY SUITE 303 MERIDEN, CT 06450 |
* | $ -1,000 | 9 | $ 1,545,000 |
| First International Bank & Trust 1600 S BDWAY MINOT, ND 58701 |
* | $ 4,910,204,000 | 9 | $ 1,735,000 |
| First State Bank 423 BROADWAY BUXTON, ND 58218 |
* | $ 346,040,000 | 9 | $ 2,115,000 |
| New American Funding, Llc. 14511 MYFORD ROAD, SUITE 100 TUSTIN, CA 92780 |
* | $ -1,000 | 8 | $ 810,000 |
| Unity Bank 207 W LINCOLN ST AUGUSTA, WI 54722 |
* | $ 590,521,000 | 8 | $ 680,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 110,900,000,000 | 8 | $ 2,020,000 |
| Choice Financial Group 4501 23RD AVE S FARGO, ND 58104 |
* | $ 4,229,093,000 | 8 | $ 2,340,000 |
| Florida Capital Bank, N.A 10151 DEERWOOD PARK BLVD. BLDG. 100 #200 JACKSONVILLE, FL 32256 |
* | $ 444,412,000 | 6 | $ 910,000 |
| PennyMac Loan Services LLC 3043 TOWNSGATE ROAD WESTLAKE VILLAGE, CA 91361 |
* | $ -1,000 | 6 | $ 1,330,000 |
| Navy Federal Credit Union 820 FOLLIN LANE VIENNA, VA 22180 |
* | $ 156,645,099,000 | 6 | $ 1,190,000 |
| Border Bank 4530 17TH AVENUE SOUTH FARGO, ND 58103 |
* | $ 885,269,000 | 5 | $ 385,000 |
| Primary Residential Mortgage, Inc. 1480 N 2200 W SALT LAKE CITY, UT 84116 |
* | $ -1,000 | 5 | $ 495,000 |
| Coastal Community Bank PO BOX 12220 EVERETT, WA 98203 |
* | $ 3,141,703,000 | 5 | $ 185,000 |
| Affinity Plus Federal Credit Union 175 WEST LAFAYETTE FRONTAGE ROAD SAINT PAUL, MN 55107 |
* | $ 4,078,225,000 | 5 | $ 235,000 |
| Riverwood Bank 14540 DELLWOOD DR PO BOX 2947 BAXTER, MN 56425 |
* | $ 587,264,000 | 5 | $ 1,085,000 |
| Figure Lending LLC SAN FRANCISCO, CA 94108 |
* | $ -1,000 | 5 | $ 205,000 |
| 21st Mortgage 620 MARKET ST SUITE 100 KNOXVILLE, TN 37902 |
* | $ -1,000 | 5 | $ 635,000 |
| Park State Bank 2630 WEST SUPERIOR STREET DULUTH, MN 55806 |
* | $ 1,082,644,000 | 5 | $ 585,000 |
| loanDepot.com LLC 6561 IRVINE CENTER DRIVE IRVINE, CA 92618 |
* | $ -1,000 | 5 | $ 1,145,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 3,201,942,000,000 | 4 | $ 550,000 |
| Tradition Mortgage, LLC 16995 BRANDTJEN FARM DRIVE SUTE 300 LAKEVILLE, MN 55044 |
* | $ -1,000 | 4 | $ 640,000 |
| Bank of America NA 31303 AGOURA RD CA6-917-01-20 WESTLAKE VILLAGE, CA 91361 |
* | $ 2,418,508,000,000 | 4 | $ 220,000 |
| Guaranteed Rate, Inc. 3940 NORTH RAVENSWOOD AVE CHICAGO, IL 60613 |
* | $ -1,000 | 4 | $ 560,000 |
| Bell Bank 3100 13TH AVE S FARGO, ND 58103 |
* | $ 12,493,973,000 | 4 | $ 1,430,000 |
| Kiavi Funding, Inc. 315 MONTGOMERY STREET 16TH FLOOR SAN FRANCISCO, CA 94104 |
* | $ -1,000 | 4 | $ 360,000 |
| American Pacific Mortgage Corporation 3000 LAVA RIDGE COURT, SUITE 200 ROSEVILLE, CA 95661 |
* | $ -1,000 | 4 | $ 890,000 |
| Everett Financial, Inc. 14801 QUORUM DRIVE, SUITE 300 DALLAS, TX 75254 |
* | $ -1,000 | 3 | $ 655,000 |
| New Day Financial, Llc. 360 SOUTH ROSEMARY AVENUE SUITE 1900 WEST PALM BEACH, FL 33401 |
* | $ -1,000 | 3 | $ 315,000 |
| CMG Mortgage Inc 3160 CROW CANYON ROAD, SUITE 400 SAN RAMON, IL 94583 |
* | $ -1,000 | 3 | $ 795,000 |
| Fairway Independent Mort Corp 4801 S. BILTMORE LANE MADISON, WI 53718 |
* | $ -1,000 | 3 | $ 545,000 |
| Kodabank 104 S MAIN ST DRAYTON, ND 58225 |
* | $ 415,103,000 | 3 | $ 845,000 |
| Midfirst Bank 501 NW GRAND BLVD OKLAHOMA CITY, OK 73118 |
* | $ 34,681,050,000 | 3 | $ 235,000 |
| Crescent Mortgage Company MORGANTOWN, WV 26505 |
* | $ -1,000 | 3 | $ 475,000 |
| Citizens Bank, NA ONE CITIZENS PLAZA PROVIDENCE, RI 02903 |
* | $ 226,401,591,000 | 3 | $ 385,000 |
| Nextmortgage, LLC 3160 CROW CANYON RD SAN RAMON, CA 94583 |
* | $ -1,000 | 2 | $ 640,000 |
| Bay Equity LLC DETROIT, MI 48226 |
* | $ -1,000 | 2 | $ 230,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ 1,717,531,000,000 | 2 | $ 270,000 |
| Flagstar Bank NA TROY, MI 49098 |
* | $ 90,036,656,000 | 2 | $ 360,000 |
| Hiway Credit Union 111 EMPIRE DRIVE SAINT PAUL, MN 55103 |
* | $ 1,740,477,000 | 2 | $ 180,000 |
| Bank Forward 390 WHEAT STREET, PO BOX 100 FARGO, ND 58104 |
* | $ 896,699,000 | 2 | $ 550,000 |
| Town and Country Credit Union 615 S BROADWAY ST MINOT, ND 58701 |
* | $ 635,992,000 | 2 | $ 400,000 |
| Agcountry Farm Credit Services, Flca 1900 44TH ST S - PO BOX 6020 FARGO, ND 58108 |
* | $ -1,000 | 2 | $ 530,000 |
| North Star Credit Union 24 S RIVER ST COOK, MN 55723 |
* | $ 91,442,000 | 2 | $ 70,000 |
| Mutual of Omaha Mortgage LOMBARD, IL 60148 |
* | $ -1,000 | 2 | $ 160,000 |
| Primelending 18111 PRESTON ROAD SUITE 900 DALLAS, TX 75252 |
* | $ -1,000 | 2 | $ 80,000 |
| SWBC Mortgage Corporation 9311 SAN PEDRO AVENUE STE 100 SAN ANTONIO, TX 78216 |
* | $ -1,000 | 2 | $ 130,000 |
| Wings Financial Credit Union 14985 GLAZIER AVENUE APPLE VALLEY, MN 55124 |
* | $ 8,422,113,000 | 2 | $ 110,000 |
| Trustone Financial Credit Union 14601 27TH AVENUE NORTH PLYMOUTH, MN 55447 |
* | $ 4,614,668,000 | 2 | $ 420,000 |
| Nationstar Mortgage 8950 CYPRESS WATERS BLVD. COPPELL, TX 75019 |
* | $ -1,000 | 2 | $ 230,000 |
| Goldwater Bank, N.A. 2525 EAST CAMELBACK ROAD SUITE 1100 PHOENIX, AZ 85016 |
* | $ 435,814,000 | 1 | $ 305,000 |
| UBS Bank USA 299 S. MAIN ST SALT LAKE CITY, UT 84111 |
* | $ 120,987,397,000 | 1 | $ 545,000 |
| Iowa Bankers Mortgage Corporation 8800 NW 62ND AVE JOHNSTON, IA 50131 |
* | $ -1,000 | 1 | $ 115,000 |
| First United Bank 503 BRIGGS AVE SOUTH PARK RIVER, ND 58270 |
* | $ 676,375,000 | 1 | $ 325,000 |
| American Neighborhood Mortgage Acceptance Company 700 EAST GATE DRIVE, SUITE 400 MT. LAUREL, NJ 08054 |
* | $ -1,000 | 1 | $ 75,000 |
| Valley Mortgage, Inc. 3315 45TH ST S, SUITE 200 FARGO, ND 58104 |
* | $ -1,000 | 1 | $ 145,000 |
| Royal United Mortgage LLC 7999 KNUE RD. STE 300 INDIANAPOLIS, IN 46256 |
* | $ -1,000 | 1 | $ 95,000 |
| Capital Credit Union PO BOX 2096 BISMARCK, ND 58502 |
* | $ 724,151,000 | 1 | $ 465,000 |
| Servion 500 MAIN STREET NEW BRIGHTON, MN 55112 |
* | $ -1,000 | 1 | $ 335,000 |
| Northview Bank 510 MAIN STREET SANDSTONE, MN 55072 |
* | $ 427,321,000 | 1 | $ 55,000 |
| Ixonia Bank W1046 MARIETTA AVE IXONIA, WI 53036 |
* | $ 607,423,000 | 1 | $ 285,000 |
| PNC Bank N.A. 249 FIFTH AVE. MS P1-POPP-22-2 PITTSBURGH, PA 15222 |
* | $ 552,307,127,000 | 1 | $ 65,000 |
| Rbc Bank (Georgia), N.A. RALEIGH, NC 27607 |
* | $ 6,097,782,000 | 1 | $ 195,000 |
| Zillow Home Loans, LLC 2600 MICHELSON DRIVE IRVINE, CA 92612 |
* | $ -1,000 | 1 | $ 315,000 |
| Carrington Mortgage Services LLC 500 NORTH STATE COLLEGE BOULEVARD SUITES 1030, 1300 AND 1400 ORANGE, CA 92868 |
* | $ -1,000 | 1 | $ 195,000 |
| Longbridge Financial, LLC 1 INTERNATIONAL BOULEVARD, SUITE 900 MAHWAH, NJ 07495 |
* | $ -1,000 | 1 | $ 95,000 |
| Luminate Home Loans, Inc. 2523 WAYZATA BLVD SUITE 200 MINNEAPOLIS, MN 55405 |
* | $ -1,000 | 1 | $ 195,000 |
| Compeer Financial 2600 JENNY WREN TRAIL SUN PRAIRIE, WI 53590 |
* | $ -1,000 | 1 | $ 385,000 |
| Pentagon Federal Credit Union OMAHA, NE 68164 |
* | $ 35,526,360,000 | 1 | $ 65,000 |
| Deerwood Bank 21236 ARCHIBALD ROAD WAITE PARK, MN 56387 |
* | $ 1,037,836,000 | 1 | $ 95,000 |
| Village Capital & Investment 2460 PASEO VERDE PKWY SUITE 100 HENDERSON, NV 89074 |
* | $ -1,000 | 1 | $ 135,000 |
| Fifth Third Bank, National Association 38 FOUNTAIN SQUARE MD1090K1 CINCINNATI, OH 45263 |
* | $ 206,289,179,000 | 1 | $ 135,000 |
| Prosperity Home Mortgage, LLC 14501 GEORGE CARTER WAY SUITE 300 CHANTILLY, VA 20151 |
* | $ -1,000 | 1 | $ 245,000 |
| Think Mutual Bank 5200 MEMBERS PARKWAY NW ROCHESTER, MN 55901 |
* | $ 2,170,641,000 | 1 | $ 155,000 |
| Go Mortgage, LLC COLUMBUS, OH 43219 |
* | $ -1,000 | 1 | $ 145,000 |
| Empeople Credit Union 3950 38TH AVENUE MOLINE, IL 61265 |
* | $ 1,991,835,000 | 1 | $ 105,000 |
| Blaze Credit Union 2025 LARPENTEUR AVE W FALCON HEIGHTS, MN 55113 |
* | $ 2,119,023,000 | 1 | $ 185,000 |
| Fourleaf Federal Credit Union 899 SOUTH OYSTER BAY ROAD BETHPAGE, NY 11714 |
* | $ 11,943,023,000 | 1 | $ 55,000 |
| Triad Financial Services, Inc. 13901 SUTTON PARK DRIVE SOUTH, SUITE 300 JACKSONVILLE, FL 32224 |
* | $ -1,000 | 1 | $ 95,000 |
| Better Mortgage Corporation 1 WORLD TRADE CENTER FL 80 NEW YORK, NY 10007 |
* | $ -1,000 | 1 | $ 185,000 |
| Caliber Home Loans, Inc. 1525 S. BELTLINE ROAD WILMINGTON, DE 75019 |
* | $ -1,000 | 1 | $ 65,000 |
The tables below break down 2023 mortgage applications in Polk County, MN by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 447 | $88,665,000 | $198,000 | $755,000 | $103,000 | $996,000 |
| Cash-out Refinancing | 96 | $13,010,000 | $135,000 | $605,000 | $92,000 | $702,000 |
| Home Improvement | 85 | $5,285,000 | $62,000 | $255,000 | $118,000 | $522,000 |
| Other Purpose | 74 | $5,550,000 | $75,000 | $545,000 | $127,000 | $765,000 |
| Refinancing | 66 | $8,040,000 | $121,000 | $465,000 | $104,000 | $306,000 |
| Not Applicable | 5 | $405,000 | $81,000 | $165,000 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 598 | $93,190,000 | $155,000 | $755,000 | $107,000 | $996,000 |
| Not applicable | 82 | $13,940,000 | $170,000 | $675,000 | $0 | $0 |
| Not Provided | 61 | $9,305,000 | $152,000 | $475,000 | $104,000 | $522,000 |
| Hispanic | 22 | $2,620,000 | $119,000 | $335,000 | $85,000 | $200,000 |
| American Indian or Alaskan Native | 5 | $585,000 | $117,000 | $245,000 | $110,000 | $187,000 |
| Black or African American | 3 | $915,000 | $305,000 | $395,000 | $113,000 | $127,000 |
| Asian | 2 | $400,000 | $200,000 | $295,000 | $116,000 | $169,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 597 | $88,205,000 | $147,000 | $755,000 | $114,000 | $996,000 |
| FHA-insured (Federal Housing Administration) | 106 | $17,660,000 | $166,000 | $335,000 | $72,000 | $179,000 |
| VA-guaranteed (Veterans Administration) | 52 | $12,490,000 | $240,000 | $475,000 | $92,000 | $235,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 18 | $2,600,000 | $144,000 | $235,000 | $61,000 | $92,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 504 | $80,360,000 | $159,000 | $675,000 | $109,000 | $776,000 |
| Application Denied By Financial Institution | 87 | $10,355,000 | $119,000 | $535,000 | $82,000 | $257,000 |
| Loan Purchased By The Institution | 70 | $12,140,000 | $173,000 | $505,000 | $75,000 | $158,000 |
| Application Withdrawn By Applicant | 62 | $12,260,000 | $197,000 | $755,000 | $138,000 | $996,000 |
| File Closed For Incompleteness | 36 | $4,370,000 | $121,000 | $515,000 | $103,000 | $356,000 |
| Application Approved But Not Accepted | 12 | $1,170,000 | $97,000 | $325,000 | $80,000 | $200,000 |
| Preapproval Denied by Financial Institution | 2 | $300,000 | $150,000 | $285,000 | $89,000 | $89,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 590 | $96,390,000 | $163,000 | $755,000 | $107,000 | $996,000 |
| Debt-To-Income Ratio | 125 | $18,375,000 | $147,000 | $675,000 | $110,000 | $776,000 |
| Credit History | 26 | $1,780,000 | $68,000 | $195,000 | $81,000 | $205,000 |
| Collateral | 17 | $2,625,000 | $154,000 | $365,000 | $106,000 | $257,000 |
| Other | 8 | $820,000 | $102,000 | $275,000 | $82,000 | $160,000 |
| Credit Application Incomplete | 4 | $590,000 | $147,000 | $425,000 | $89,000 | $143,000 |
| Employment History | 2 | $130,000 | $65,000 | $125,000 | $69,000 | $71,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $245,000 | $245,000 | $245,000 | $152,000 | $152,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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